Guideline Value for GANDHI SALAI

Gandhi Salai guideline value

The current guideline value of Gandhi Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Gandhi Salai has changed

The guideline value for Gandhi Salai has seen significant changes over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased dramatically to Rs 3,000 per sq.ft, reflecting a rise of 124%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Gandhi Salai is above this median.

• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Ganesan / Mohan Garden: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Co-Operative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)
• Ganesh Ram Garden: Rs 1,100 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Salai?

The Sub Registrar Office that covers Gandhi Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chemmancheri

The guideline value is a crucial factor when registering property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the transaction is in line with the prevailing market conditions. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Salai?

The current guideline value of Gandhi Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Salai has changed from Rs 2,000 in 2012 to Rs 1,340 in 2017, then to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024.

What is the land classification for Gandhi Salai?

The land classification for Gandhi Salai is Residential Class I Type - II.

What are the stamp duty and registration fees for property in Gandhi Salai?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Which office handles registrations for Gandhi Salai?

The Neelankarai Sub Registrar Office handles registrations for Gandhi Salai, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.